Aging and Money: Reducing Risk of Financial Exploitation and Protecting Financial Resources [2 ed.] 9783030675653, 3030675653

Table of contents :
Preface
Acknowledgments
Contents
Contributors
Chapter 1: Facts and Figures
Overview
Aging in the United States and Risk of Financial Exploitation
Definitions of Elder Abuse and Financial Exploitation
Landmark US Studies of Elder Abuse Prevalence and Incidence
The Many Faces of Financial Exploitation – A Profile of the Victims
The National Impact of Elderly Financial Exploitation
Conclusions and Future Directions in Curbing Financial Exploitation in the Elderly
References
Chapter 2: One Piece of the Puzzle – Financial Exploitation and Elder Abuse
Introduction
Scope of the Problem
Pure Financial Abuse Versus Hybrid Financial Abuse
Types of Elder Financial Abuse
Victims and Perpetrators
Victims
Perpetrators
Undue Influence and the Psychodynamics of Exploitation
Combatting Elder Financial Abuse as Part of an Overall Strategy Against Elder Abuse
Detection
Protection
Conclusion
References
Chapter 3: Barriers to Recognition
Who Reports
Barriers to Self-Reporting
Barriers to Reporting
Eliminating Barriers
References
Chapter 4: Risk Factors for Patient and Caregiver
Risk Factor Recognition
Victim’s Risk Factors
Age: Ms. Jones Is an 82-Year-Old Frail Woman…
Gender: Ms. Jones Is an 82-Year-Old Frail Woman…
Race and Ethnicity
Frailty: …as Ms. Jones Became More Dependent…
Cognitive Impairment: ...as Ms. Jones Became More…Cognitively Impaired…
Physical Dependency: ….as Ms. Jones Became More …Disabled
Mental Illness
Lack of Social Support: …She Had Been Living Alone…
Substance Abuse
Fear
Low Income
Perpetrator Characteristics
Personality of the Abuser
Victim Perpetrator Relationship
Financial Dependence
Substance Abuse
Social Stressors
Mental Illness
The Environment
Living Situation
Awareness of the Modern World
Into Action: A Team-Based Approach
Conclusion
References
Chapter 5: Aging and Financial Exploitation Risk
Financial Exploitation Risk in Older Adulthood: Scope of the Problem
Determinants of Financial Risk
Social Cognitive Neuroscience Model of Financial Exploitation
Financial Risk: Assessment and Surveillance
Conclusions and Future Directions
References
Chapter 6: Assessing Older Patients’ Risk Factors of Being Financially Exploited
Introduction
Overview of the Literature
What Clinicians Can Do
Assessing Patients’ Vulnerability to Financial Exploitation
Referral and Reporting
EIFFE and Investor Education Resources
References
Chapter 7: Clinical Assessment of Financial Decision-Making Capacity
Introduction
The Clinician’s Dilemma
Screening for FDMC
Red Flags
Dementia and FDMC
Risk Assessment of Financial Decision-Making Capacity
Mitigation of Risk
Conclusion
References
Chapter 8: Financial Exploitation: The Legal Perspective
Introduction
Financial Exploitation: A Blurred Line
The Concept of Undue Influence as a Mechanism to Exploit
The Role of the Clinician
The Legal System: A Focus on Victim or Perpetrator
Civil Justice and the Concept of Protection for the Elderly
The Role of the Medical Profession in the Civil Context
The Criminal Justice System at Work
The Case of L.S.: The Need for Multidisciplinary Awareness and Interaction to Protect the Vulnerable from Devastating Loss
Recommendations and Conclusions
References
Chapter 9: Perspectives from Financial Institutions
Identifying Cognitive Decline Through Financial Interactions
What Can Financial Institutions Do and Not Do?
Who Are the Relevant Federal and State Regulators?
What Are Federal and State Regulators Doing?
What Is SIFMA Doing?
What Doctors Can Do: Case Revisited
References
Chapter 10: Documentation Practices
The Role of Healthcare Professionals in Addressing Financial Exploitation
Importance of Documentation by Healthcare Professionals
Key Qualities of Effective Documentation
Content of Documentation
Documentation Across the Five Phases of Clinical Management
Detection
Assessment
Planning
Intervention
Follow-Up
Examples of Tools to Detect and Assess Financial Exploitation
Challenges in Clinical Settings
Case Example: Visiting Nurse Documents Financial Exploitation
First Skilled Nursing Visit
Subsequent Skilled Nursing Visits
References
Chapter 11: Addressing Senior Financial Abuse: Adult Protective Services and Other Community Resources
Chapter Overview
Financial Abuse at a Glance
Scenario 1
Scenario 2
Community Resources and Networks
Adult Protective Services
Purpose
Financial Abuse Definitions
Allegation Reporting
Intake and Investigations
Resource Linkage and Service Delivery
APS Case 1
APS Case 2
Law Enforcement
Protecting and Serving Seniors of Financial Abuse Through Triads
Elder Abuse Multidisciplinary Teams
Elder Abuse Forensic Centers
Enhanced MDTs
Financial Abuse Specialist Teams
Community-Based Senior Resources
Area Agencies on Aging
American Association of Retired Persons (AARP)
Better Business Bureaus
Daily Money Management Programs
Faith Organizations
Financial Institutions
Guardianship Programs
Legal Services: Prosecutorial, Civil, and Asset Protection
Meals on Wheels
Federal Agencies and Resources
Conclusion
Appendix A: Federal Agencies
Appendix B: Legal Services
Appendix C: Accounting Services
References
Chapter 12: Elder Abuse Multidisciplinary Teams
Multidisciplinary Teams—History and Overview
Origin and Diffusion of Multidisciplinary Teams
Multidisciplinary Team Variation
Teams Addressing Financial Exploitation
Activities and Structure
Formalization and Leadership Structures
Membership
Considerations for the Development of MDTs
Teams in Action: A Case Study
Other Multidisciplinary Groups
Benefits, Challenges, and Measuring Success
Benefits and Victim Outcomes
Challenges Faced by Multidisciplinary Teams
Complexity of Evaluating MDTs
Final Thoughts
References
Chapter 13: Public Policy and Advocacy
Historical Perspective of US Policy
Current Policy Initiatives
Defining a Research Agenda
Professional Advocacy
Self-Advocacy
The Future
References
Chapter 14: Critical Documents Associated with Aging
Introduction
Outline
Medical and Privacy Issues
Medicare
Glossary of Levels of Care
Caregivers, Care Managers, and Financial Concerns
Managing Care in the Home
Financial Concerns
Legal Issues and Advance Directives: End-of-Life Care
Advance Directives: Glossary of Terms
POST (Physician’s Orders for Scope of Treatment) Form
Ethical Will
Living Will
Last Will and Testament
Probate: Briefly Explained
Attorney-in-Fact (AIF)
Power of Attorney (POA)
Durable Power of Attorney (DPOA)
Guardian/Conservator
Capacity
Competence/Incompetence
Undue Influence
Privacy
HIPAA Standards
Disclaimer
References
Resources
Chapter 15: Methods to Protect Individuals from Financial Exploitation
Introduction
Who Is at Risk?
Who Are the Perpetrators?
Examples of Types of Fraud
Action Plans
Setting Up Protections from Financial Abuse
Setting Up Protections for the Home
Caregiver/Family Interventions
Benefits of Preventative Interventions
Available Resources
Future Directions
Index

Citation preview

Aging and Money Reducing Risk of Financial Exploitation and Protecting Financial Resources Ronan M. Factora Editor Second Edition

123

Aging and Money

Ronan M. Factora Editor

Aging and Money Reducing Risk of Financial Exploitation and Protecting Financial Resources Second Edition

Editor Ronan M. Factora Cleveland Clinic Lerner College of Medicine at Case Western Reserve University Cleveland Clinic, Cleveland, OH, USA

ISBN 978-3-030-67564-6    ISBN 978-3-030-67565-3 (eBook) https://doi.org/10.1007/978-3-030-67565-3 © Springer Nature Switzerland AG 2021 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, expressed or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. This Springer imprint is published by the registered company Springer Nature Switzerland AG The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland

Preface

This book came about after a collaboration between me and my geriatric medicine colleagues after presenting a symposium on financial exploitation at the American Geriatrics Society Scientific Meeting in 2012. The interest that came out following this symposium demonstrated how concerned my colleagues were about this issue, and discussions with professionals from other disciplines showed they had similar concerns. Increasingly, older persons have been targeted as potential victims to be taken advantage of for their financial resources. Individuals from the lowest income brackets to multimillionaires, from the next-door neighbors to famous faces, have become victims of financial exploitation. Though this form of elder abuse has been recognized for years, its incidence, prevalence, and impact on the common individual continues to be a challenge to identify and address. In the context of the great recession and the baby-boomer population reaching retirement age, the temptation to take advantage of these elders who are trusting, disabled, or cognitively impaired may be greater now than at any other time. We now know that the increased risk in this population has a physiological underpinning as we continue to understand more about how structural and functional changes in the brain are associated with higher risk of victimization. Despite all of the advancing knowledge, recognition of risk factors and indicators of financial exploitation are not widely disseminated. Additionally, once financial exploitation is identified and confronted, the knowledge of what to do next is also lacking. Many resources are available, but lack of awareness of their existence is a significant barrier to their use. These gaps are present within the medical community, law-enforcement, and the financial community – areas where opportunities for recognition and intervention are common. Our elders often have no idea of what to do when they see their own risk or when they fall victim. The purpose of this book is to help disseminate and share knowledge about this problem with the purpose of protecting those individuals in our society who are vulnerable to financial abuse and exploitation. This edition seeks to highlight the perspectives of those who encounter this problem in different disciplines, including professionals in medicine, law, the financial industry, and social services. v

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Preface

Understanding what each discipline’s role is in investigating and managing this issue is a key to achieving success. With this knowledge, the reader can look to their own community to seek out local champions to fight for the cause and join those across the nation who work for the same goal. Cleveland, OH, USA

Ronan M. Factora

Acknowledgments

I would like to thank the many collaborators whose names grace the pages of this work. They represent a small number of a dedicated cadre of professionals whose focus is the protection of the frailest and most vulnerable, the most venerable of our community.

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Contents

1 Facts and Figures ����������������������������������������������������������������������������������������  1 Ronan M. Factora 2 One Piece of the Puzzle – Financial Exploitation and Elder Abuse ��������������������������������������������������������������������������������������   15 Sherif Soliman and Jason Beaman 3 Barriers to Recognition ��������������������������������������������������������������������������   29 Ronan M. Factora 4 Risk Factors for Patient and Caregiver ������������������������������������������������   37 Anthony Casacchia and Natalie Kayani 5 Aging and Financial Exploitation Risk��������������������������������������������������   55 R. Nathan Spreng, Natalie C. Ebner, Bonnie E. Levin, and Gary R. Turner 6 Assessing Older Patients’ Risk Factors of Being Financially Exploited ��������������������������������������������������������������������������������������������������   75 Robert E. Roush and Aanand D. Naik 7 Clinical Assessment of Financial Decision-­Making Capacity��������������   85 Ronan M. Factora 8 Financial Exploitation: The Legal Perspective��������������������������������������   95 Adam M. Fried, Franklin C. Malemud, and Page B. Ulrey 9 Perspectives from Financial Institutions������������������������������������������������  113 Celiza P. Bragança and Lisa J. Bleier 10 Documentation Practices������������������������������������������������������������������������  123 Georgia J. Anetzberger and Carol A. Miller 11 Addressing Senior Financial Abuse: Adult Protective Services and Other Community Resources ������������������������������������������  135 Jason Burnett, Sharlene Nauls, Lori Albee, and Renee J. Flores ix

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Contents

12 Elder Abuse Multidisciplinary Teams����������������������������������������������������  155 Julia Margaret Rowan, Georgia J. Anetzberger, Diana Homeier, and Gerson Galdamez 13 Public Policy and Advocacy��������������������������������������������������������������������  171 Jennifer Drost 14 Critical Documents Associated with Aging��������������������������������������������  187 James S. Powers, Carolyn K. Smith, Gretchen Napier, and Timothy L. Takacs 15 Methods to Protect Individuals from Financial Exploitation��������������  221 Ronan M. Factora Index�������������������������������������������������������������������������������������������������������������������� 237

Contributors

Lori  Albee, MVSM  The Texas Department of Family and Protective Services, Adult Protective Services, Houston, TX, USA Georgia J. Anetzberger, PhD, ACSW, FGSA  Schools of Applied Social Sciences and Medicine, Case Western Reserve University, Cleveland, OH, USA Jason Beaman, DO, MS, MPH, FAPA  Department of Psychiatry and Behavioral Sciences, Oklahoma State University Center for Health Sciences, Tulsa, OK, USA Lisa J. Bleier  SIFMA, Washington, DC, USA Celiza P. Bragança  Bragança Law LLC, Skokie, IL, USA Jason  Burnett, PhD  Internal Medicine, Division of Geriatric and Palliative Medicine, The University of Texas Health Science Center at Houston, (UTHealth), McGovern Medical School, Houston, TX, USA Anthony Casacchia, MD  Division of Geriatric Medicine, Summa Health System, Akron, OH, USA Jennifer Drost, DO, MPH  Division of Geriatric Medicine, Summa Health System, Akron, OH, USA Natalie  C.  Ebner  Department of Psychology, University of Florida, Gainesville, FL, USA Institute on Aging, Department of Aging & Geriatric Research, University of Florida, Gainesville, FL, USA Cognitive Aging and Memory Clinical Translational Research Program, University of Florida, Gainesville, FL, USA Florida Institute for Cybersecurity Research, McKnight Brain Institute, & Pain Research and Intervention Center of Excellence, University of Florida, Gainesville, FL, USA

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Contributors

Ronan  M.  Factora, MD  Cleveland Clinic Lerner College of Medicine at Case Western Reserve University, Cleveland Clinic, Cleveland, OH, USA Renee  J.  Flores, MD  Internal Medicine, Division of Geriatric and Palliative Medicine, The University of Texas Health Science Center at Houston, (UTHealth), McGovern Medical School, Houston, TX, USA Adam M. Fried, Esq.  Reminger Co. LPA, Cleveland, OH, USA Probate and Trust Litigation, Cleveland, OH, USA Gerson  Galdamez, PhD  Leonard Davis School of Gerontology, University of Southern California, Los Angeles, CA, USA Diana Homeier, MD  University of Southern California, Los Angeles, CA, USA Natalie  Kayani, MD  Division of Geriatric Medicine, Summa Health System, Akron, OH, USA Bonnie  E.  Levin  Alexandria and Bernard Schoninger Professor of Neurology, University of Miami, Miller School of Medicine, Miami, FL, USA Franklin C. Malemud, Esq.  Reminger Co. LPA, Cleveland, OH, USA Probate and Trust Litigation, Cleveland, OH, USA Carol A. Miller, MSN, BC  Care and Counseling, Brecksville, OH, USA Aanand  D.  Naik  Professor and Chief, Section of Geriatrics and Palliative Medicine, Department of Medicine, Baylor College of Medicine, Houston, TX, USA Gretchen Napier  Life-Links Geriatric Care Management, Nashville, TN, USA Sharlene Nauls, LMSW  The Texas Department of Family and Protective Services, Adult Protective Services, Houston, TX, USA James S. Powers, MD  Center for Quality Aging, Vanderbilt University School of Medicine, Nashville, TN, USA Tennessee Valley Geriatric Research, Education, and Clinical Center, Nashville, TN, USA Robert E. Roush, EdD, MPH  Baylor College of Medicine, Houston, TX, USA Julia Margaret Rowan, PhD  Leonard Davis School of Gerontology, University of Southern California, Los Angeles, CA, USA Carolyn  K.  Smith, Nashville, TN, USA

LCSW  Tennessee

Valley

Healthcare

System,

Sherif  Soliman, MD  Forensic and Geriatric Psychiatry, Atrium Health, Charlotte, NC, USA

Contributors

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R.  Nathan  Spreng  Laboratory of Brain and Cognition, Montreal Neurological Institute, Department of Neurology and Neurosurgery, McGill University, Montreal, QC, Canada Departments of Psychiatry and Psychology, McGill University, Montreal, QC, Canada Douglas Mental Health University Institute, Verdun, QC, Canada McConnell Brain Imaging Centre, McGill University, Montreal, QC, Canada Timothy  L.  Takacs, JD, CELA  Takacs McGinnis Elder Care Law, PLLC, Hendersonville, TN, USA Gary R. Turner  Department of Psychology, York University, Toronto, ON, Canada Page B. Ulrey  King County Prosecutor’s Office, Seattle, WA, USA

Chapter 1

Facts and Figures Ronan M. Factora

Overview With good reason, financial elder abuse has been characterized by some experts as “the crime of the 21st Century [1].

Exploitation and abuse of older persons is a phenomenon that spans centuries, continents, and cultures. The United States started to publically recognize and legislatively address financial exploitation of this group of people in the latter half of this century, long after work on child abuse and violence against women was advocated and underway. With the “graying of America,” there has never been such a crucial time to develop a full understanding of this phenomenon and to continue to develop appropriate interventions to prevent exploitation and injury to this often vulnerable segment of our society. This chapter will review the demographics of financial exploitation in this population, the impact on the victims of such abuse, and the legislative response to this growing phenomenon.

Aging in the United States and Risk of Financial Exploitation Americans are living longer and in increasing numbers with the aging of the baby boomer generation. There were 52 million people over 65 years of age according to a 2018 census, and by the year 2050, this number will exceed 80 million, of which 19% will be over the age of 85. Consequently, there will be a rise in the numbers of individuals living in a frail, dependent, and debilitated state, with associated

R. M. Factora (*) Cleveland Clinic Lerner College of Medicine at Case Western Reserve University, Cleveland Clinic, Cleveland, OH, USA e-mail: [email protected] © Springer Nature Switzerland AG 2021 R. M. Factora (ed.), Aging and Money, https://doi.org/10.1007/978-3-030-67565-3_1

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R. M. Factora Aging US Population Total Numbers by Age Group Population60+ by Age: 1900-2050 Source:U.S. Bureau of the Census 120,000,000

Number of Persons 60+

100,000,000

80,000,000

60,000,000

40,000,000

20,000,000

0

1900

1910

1920

1930

1940

1950

1960

1970

Age 60-64

Age 65-74

1980 Age 75-84

1990

2000

2010

2020

2030

2040

2050

Age 85+

Source: U.S. Administration on Aging using the Census data

Fig. 1.1  Increase in US population by age/year from 1900 to 2050. (Adapted from the US Administration on Aging using the census data from the Bureau of the Census)

increased monetary and societal costs. The National Aging Information Center projected that the number of individuals with severe disability requiring partial or total assistance will increase from 3.8 million in 1990 to 14.3 million by the year 2040, with 70% expected to be over the age of 85 [2] (Fig. 1.1). In the United States, most community-residing individuals with disabilities are cared for by families or paid caregivers. Currently, 5% of the elderly in the United States are in long-term care settings, with the majority being women and 22% over the age of 85. It is estimated that for every individual living in a nursing home, five individuals are cared for at home by family or paid caregivers. These changing demographics raise concern about a rising financial and social burden placed on a proportionately smaller younger generation of caretakers. It also represents a growing pool of potential elder abuse victims [3].

Definitions of Elder Abuse and Financial Exploitation Elder abuse is a societal problem with domains cutting across social, clinical, criminal, business, and legal arenas. Although the disciplines of medicine and law define and detail abuse through their respective interests, expertise, and skills, broader working definitions have evolved to better define, label, and study the problems outside these specific professional venues to reach a larger audience and address the broader implications of social justice. The Center for Disease Control (CDC)

1  Facts and Figures

3

defines elder maltreatment as “any abuse and neglect of persons age 60 and older by a caregiver or another person in a relationship involving an expectation of trust.” [4] Further, the National Center on Elder Abuse (NCEA) defines seven types of elder maltreatment based on its analysis of existing state and federal definitions of elder abuse, neglect, and exploitation. The seven types of abuse defined by NCEA are as follows: physical abuse, sexual abuse, emotional abuse, financial/material exploitation, neglect, abandonment, and self-neglect. Detailed definitions are published on the NCEA’s website. The NCEA’s general definition of financial and material exploitation is the “illegal or improper use of an elder’s funds, property, or assets” [5]. In the realm of the US federal law, the Older Americans Act of 2006 defined financial exploitation as “fraudulent or otherwise illegal, unauthorized, or improper act or process of an individual, including a caregiver of fiduciary, that uses the resources of an older individual for monetary or personal benefits, profit, or gain, or that results in depriving an older individual of rightful access to, or use of, benefits, resources, belongings, or assets” [6]. This federal statute speaks to a spectrum of financial exploitation in the United States. The exploitation the statute implies can range from blatantly criminal activity with explicit intent to defraud the victim to careless or unwise financial transactions by individuals or caregivers of the victim presented as necessary or normal behavior. What constitutes “improper” use of finances given the differences in cultural beliefs and mores further complicates the operationalization of the financial exploitation definitions, as perpetrators fall into several categories, ranging from trusted family and friends to financial advisors and total strangers.

 andmark US Studies of Elder Abuse Prevalence L and Incidence Measuring the scope of elder abuse, neglect, and mistreatment has been a monumental task. Early difficulties stemmed from lack of standardized definitions, absence of mandates for reporting such abuse or a central repository for such information, need for coordination and communication between agencies involved in this work, and standardized methodologies for advancing study and education in this area. The bulk of data derived from local surveys and community studies was extrapolated to national estimates. Over the past two decades, new methods of sampling and identifying elderly mistreatment have helped improve validity and comprehensiveness of elder mistreatment occurrence estimates. Several landmark studies have expanded our knowledge about elder abuse and have stimulated recent social and federal legislative changes. The 1998 National Elder Abuse Incidence Study (NEAIS) was one of the first landmark studies exposing the scope of the problem of elder abuse and neglect in the United States. It published the first national estimates of its incidence. This study, funded as part of the 1992 Family Violence Prevention and Service Act and

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R. M. Factora

conducted with the National Center for Elder Abuse, collected data from state Adult Protective Services (APS) reports and investigations, as well as from “sentinels” in 248 community agencies [7]. Drawing on past study experience in child abuse studies, the NEAIS used “sentinels” to gather incidence data, as officially reported cases of abuse were felt to underreport the number of actual cases of elderly abuse and neglect. The sentinels in the NEAIS were specialty trained individuals who had regular contact with the elderly in multiple community agencies including law enforcement, hospitals and public health institutions, and elder care providers. The NEAIS collected data in 20 counties in 15 states and reported that approximately 450,000 elderly persons aged 60 and above were abused or neglected in domestic settings during 1996. This incidence rate was up to five times higher than the incidence rate of reports to APS the same year. This suggested that up to 379,000 cases of elder abuse went unreported, with 35% of the cases of elderly abuse representing emotional abuse, financial exploitation (30%), physical abuse (26%), and abandonment (4%) (Fig.  1.2). The study showed that female elders experienced higher rates of abuse or neglect than males. The oldest old (> 80 years) were abused at 2–3 times the rate of the young old. In almost 90% of the abuse and neglect incidents, the perpetrator was a family member, with two-thirds of these being adult children or their spouses. Eighty-five percent of the perpetrators of financial exploitation were under 60 years of age. The NEAIS provided a detailed risk profile of the victims and the kinds of abuse suffered. The profiles showed that 50% were unable to care for themselves, 60% had some form of cognitive decline, and 44% developed depression. Males were the

Emotional Abuse 35% Financial Exploitation 30% Physical Abuse 26% Abandonment 4%

Fig. 1.2  Types of elder mistreatment. (Adapted from the National Elder Abuse Incidence study: Prepared for the Administration for Children and Families and the Administration on Aging in the US Department of Health and Human Services [7])

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5

most frequent perpetrators for abandonment (84%), physical abuse (62%), emotional abuse (61%), and financial exploitation (59%). Females were more commonly involved in neglect (52%). White elders were the predominant victims for maltreatment, while black elders were more likely to be neglected or suffer from financial exploitation or emotional/psychological abuse. Supporting the findings of the NEAIS study, the National Association of Adult Protective Services Administrators (NAAPSA) conducted a study of financial exploitation of vulnerable elders in 2001. They surveyed 34 states with 28 states reporting 15% of the substantiated reports involved financial exploitation at a prevalence of 38,015 within the last year. More than half of the victims were female, and the majority (64%) were 66 or older. A few states reported that the victims had higher incomes, but the majority found the victims had incomes similar to other APS clients. These same individuals, however, had greater real estate assets (property and non-monetary resources), which the perpetrators were more likely to target [8]. A further study in 2004 revealed an even higher estimate of victims, ranging from 100,000 to as high as one million per year, with reported cases up almost 20% from the first survey. Financial exploitation was the third most commonly substantiated form of elder abuse following neglect and emotional or psychological abuse. Again, females emerged as the most common victims, with 42.8% over the age of 80. The majority were Caucasians. Perpetrators were more likely to be adult children or other family members, female, and younger (age less than 60) [9]. Additionally, Laumann et al. appended the National Social Life, Health, and Aging project with questions of mistreatment [10]. The study surveyed 2005 elderly, thought to be nationally representative sample. It found a past year prevalence of verbal abuse (9%), financial mistreatment (3.5%), and physical abuse (0.2%). The demographics were similar to prior studies, with women and physically frail individuals far more likely to suffer verbal mistreatment. African Americans were more likely to report financial exploitation. The cumulative conclusions of these more recent studies show a clear increase in elder mistreatment of all forms, with an emerging trend toward financial exploitation. The pattern for victims remained consistent, with women and the old-old being the targets for abuse and perpetrators most likely family members, typically adult children. Consumer fraud has increasingly become common. A report from the Federal Trade Commission provided to Congress in October 2019 [11] provided the following key findings: • Though older individuals were less likely to be targets of fraud, when it does occur in an older person, the dollar amount of loss is higher compared to younger adults. • Losses increased based on the age of the individual. • Phone scams were the most “lucrative” against older consumers. • Older individuals were more likely compared to younger individuals to report victimization through tech support scams, prize, sweepstakes & lottery scams, and family & friend impersonation.

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 he Many Faces of Financial Exploitation – A Profile T of the Victims “My money was stolen from me, by someone close,” entertainment legend Mickey Rooney, 90, testified in front of a Senate Special Committee on Aging hearing exploring the nationwide trends of abuse, neglect, and financial exploitation. Rooney filed a restraining order against his stepson and stepdaughter, claiming both emotional and financial abuse, and alleging he was locked up in his house and given no explanation why his rights were stripped of him. The disgraced son of Brooke Astor, a prominent New York socialite, Anthony Marshall was convicted in 2009 of grand larceny for taking advantage of his mother with dementia and plundering her $200 million fortune. Anthony Marshall’s son filed a lawsuit against him claiming that his father had not provided for his elderly mother who suffered from Alzheimer’s disease. Instead, he allowed her to live in squalor and failed to provide necessary medication and doctor’s visits while enriching himself with income from her estate. The grandson requested a change in guardianship to Annette de la Renta, the wife of designer Oscar de la Renta. These high-profile cases bring much renewed national and international publicity to the issues of financial exploitation of the elderly. However, as reported in the MetLife news feeds, this form of elder abuse spans across all classes, races, and cultures and frequently occurs in obscurity and therefore draws little attention. Even more so than other forms of abuse, precise measurement of financial exploitation of the elderly across cultures is difficult to determine, as varied cultures have vastly differing attitudes and norms regarding what constitutes improper use of funds. In the United States, people in their late 70s and 80s were shaped by their experiences during the great depression. They currently represent the wealthiest cohort of Americans, with their wealth estimated to be $1–3 trillion or 70% of the nation’s assets [12]. Physical dependency and cognitive decline are the predominant attributes that make older persons vulnerable to abuse and exploitation. These physical and cognitive vulnerabilities coupled with this cohort’s trusting character and unprecedented financial wealth have created a prime target for financial exploitation. The “typical victim” of financial exploitation in the United States is described by APS as an elderly female, Caucasian, between the ages of 70 and 89, physically frail, and/or cognitively impaired [7]. Other studies confirm that women over the age of 70 are at highest risk for exploitation [13–15]. Additionally, living with a caregiver or being socially isolated or widowed increases one’s vulnerability to financial exploitation [9, 12, 15]. Racial differences in financial exploitation in the United States found that African Americans have a significantly higher rate of financial exploitation than Caucasians and Latinos, but Latino’s were less likely to report any type mistreatment [10]. In fact, African Americans had nearly four times greater risk for financial exploitation than non-African Americans and an 8.5-fold risk of occurrence within the last 6 months of life. The majority of these perpetrators were not family members [16].

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Cognitive decline represents a major risk factor for financial exploitation and can occur before frank dementia is diagnosed. This vulnerability occurs not only because of poor financial judgment but also because of diminished ability to detect or prevent exploitation. With progressive cognitive loss, there is an increased dependency on others for assistance in financial management, exposing these individuals to potentially greater risk of financial exploitation. Recent research on the neurobiology of aging shows that even early cognitive changes can increase the risk of financial exploitation. A study found that persons with mild cognitive impairment (MCI) were four times more likely to make financial errors than those without MCI [17]. Damage from strokes or degenerative process to the orbitofrontal cortex (OFC), the part of the brain that houses executive function and judgment, can result in less risk-­aversive behavior. Additionally, a sizable portion of older adults (approximately 45%) perform poorly on measures of financial decision-making with marked changes in responses to risk taking, ambiguity, and reaction to rewards or punishment and may have more likelihood to fall prey to exploitation [18]. In addition to individual vulnerabilities, interpersonal dynamics between the victims and perpetrators have been found to impact exploitation risk in two described models [19]. Researchers described that older persons who experienced what they termed as “pure financial exploitation” (PFE) were generally financially or physically independent, as were their perpetrators. The described characteristics that increased susceptibility to financial exploitation included a variety of characteristics including these victims developing a false sense of trust along with a desire to protect the perpetrator. Other described schemes for financial exploitation include the development of a short-term romantic or sexual relationship with the perpetrator with financial assets as the “quid pro quo” requirement for the relationship to continue. In addition, the elderly victim often overestimated the skills or good intentions of the perpetrator or feared loss of independence and became enmeshed in circumstances that allowed the perpetrator to prey on this fear. Many victims were duped into being “charitable” and misled in their good intentions. In comparison to victims of PFE, the described victims of “hybrid financial exploitation” (HFE) were typically physically or cognitively but not financially dependent on their perpetrator with their perpetrators generally financially dependent on the victim. Risks factors identified in this group of exploited older persons included co-occurring but unrelated financial exploitation and physical abuse in which the victim had sought to protect the dependent perpetrator in a “parent-­child” relationship. This dependency in the perpetrator generally centered on mental illness or substance abuse issues. The authors concluded that PFE was more similar to crimes against society and HFE was more similar to family violence. The many variables that contribute to financial exploitation of older persons in the United States include a cohort effect of unprecedented wealth, trust, and generosity in an unparalleled number of those aging into physical frailty and cognitive impairment, creating a concerning environment of vulnerability to abuse and financial exploitation. Patterns of abuse differ between gender and race, with females more likely to be victims of abuse overall and African-Americans more likely to be financially exploited. Social isolation, poor social support, and loneliness and

8 Table 1.1  Characteristics of vulnerability

R. M. Factora Depression, bereavement, loneliness Social isolation Adult child living with elder Dependence on another to provide care Financially responsible for adult child, spouse, or trusted caregiver Cognitively impaired Physically impaired (Adapted from Teaster [8])

depression also play a role. Perhaps the most confounding variable in the financial exploitation discussion is the effect of interpersonal dynamics within relationships that are frequently familial and lifelong. The enmeshed nature of these relationships makes the recognition, reporting, and the protection of those who are financially exploited particularly challenging (Table 1.1).

The National Impact of Elderly Financial Exploitation In 2009, MetLife in conjunction with NCPEA and Virginia Tech published a groundbreaking study of elder financial exploitation that provided a comprehensive understanding about the extent and implications of all forms of elder financial abuse. This study, “Broken Trust: Elders, Family, and Finances,” was the first large-­ scale study of its kind and used data from a number of resources [1] including news feed articles collected by the National APS via daily media releases tracked by Google or Yahoo search engines from April to June 2008; 12 electronic databases of academic journals containing primary literature from 1998 to 2008 with articles from organizational and trade literature; and the Promising Practice database maintained by NCEA. In a mere 3 months, the news feed articles revealed approximately $396,654,700 in losses from all forms of financial abuse which annualized to a staggering $1.5 billion per year. These losses represented figures reported in 60% of the articles. Extrapolating similar losses in the additional unreported cases, the authors estimated a potential yearly financial exploitation of closer to $2.6 billion per year. Business and industry-related losses resulted in the highest monetary losses to the victims, followed by Medicare and Medicaid fraud. Exploitation by individuals ranked last on the list. However, the perpetrators were most likely to be family, friends, neighbors, and caregivers (55%), with strangers (21%), financial professionals (18%), and Medicare/Medicaid fraud ranking lower in frequency. Utilizing the similar methods, MetLife conducted a second study in 2010. Its published report, “Crimes of Occasion, Desperation, and Predation Against America’s Elders,” showed a 12% increase in financial exploitation in the 2 years that had elapsed from the initial study, with estimated losses now at $2.9 billion a year. In addition, there was a change in the manner of exploitation used, with a trend

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9 Breakdown of Financial Perpetrators 2009 & 2010

60% 50% 40% 2009

30%

2010 20% 10% 0% Family, Friends and Caregivers

Strangers

Financial Professionals

Medicare/Medicaid Fraud

Fig. 1.3 Most common sources of financial abuse. (Adapted from Crimes of Occasion, Desperation, and Predation Against Americas Elderly [20])

toward increasing scams and confidence schemes. The perpetrators in these scenarios were more likely to be strangers (51%), with financial abuse by family, friends or neighbors (34%), business sector (12%), and finally Medicare or Medicaid fraud (4%). The profile of the perpetrator was largely male between the ages of 30 and 59 years. The ranking of monetary losses had likewise shifted, with Medicare or Medicaid fraud highest ($38,263,136), the business sector next ($6,219,496), family friends and neighbors third ($145,768), and fraud by strangers last ($95,156) [20] (Fig. 1.3). The victims of this form of financial exploitation were more likely women (twofold higher) between the ages of 80 and 89 who were reliant on others for health care, personal services, or home maintenance. “There existed a combination of tenuous, valued independence and observable vulnerability that merged in the lives of the victims to optimize opportunities for abuse by every type of perpetrator from closest family members to professional criminals.” The 2010 data also showed a change in the types of crimes, with reports of phone scams, confidence schemes, and robberies rising from 9.5% to 28%. Crimes committed by family members decreased by half in this period, caregivers by one-third, and trusted individuals by two-thirds (Table 1.2). Underscoring the vulnerability of these victims was the dramatic increase in the number of abusive and violent events occurring during the holidays, equally meted out by strangers and family. The often random, stranger-driven crimes were associated with a high level of brutality, characterized by a single event of severe beatings,

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Table 1.2  Types of financial abuse Crimes of occasion Theft Assault and robbery

Forcing or forging an older individual’s signature on check Taking money under false pretenses Identity theft

Crimes of desperation Misappropriation or misuse of money, property, or assets Improper use of conservatorship, guardianship, or power of attorney Denial to access of funds or preventing them from controlling their assets Failure to repay loans

Crimes of predation Persuading an impaired elder person to change a will or insurance policy Improperly using the authority provided by a conservatorship, trust, etc. Forced transfer of conservatorship

Telephone or internet scams

Living with another and not Reverse mortgage scam contributing to living expenses ATM or credit card use Abusing joint signatory authority Lottery scams Using older person as guarantor Debt relief scam Carrying out of loan for personal benefits unnecessary work or overcharging for work done Sweet heart scams Cashing an older person’s checks Foreclosure rescue scam Overcharging for groceries or Improper financial planning advice shopping for elder that does not meet the older individuals needs ATM or credit card use Getting an older person to sign a will, contract, or power of attorney through deception, coercion, or undue influence Exploitation by a financial Promising long-term care in exchange for money or property institution employee and then not providing the service Predatory lending

Adapted from Crimes of Occasion, Desperation, and Predation Against Americas Elderly [20]

rape, and murder. These events during the holiday study period rose to 28%, up from 12% in spring of 2010 and 3% as captured by the 2008 news feeds. The Metlife review of the research from 2008 to 2010 published in academic peer reviewed journals across the social, medical, and legal disciplines showed four trends emerging in the financial exploitation literature. Studies showed an increase in both incidence and prevalence of such elderly exploitation [21–25]. Further definition of subpopulations of older persons at risk of financial exploitation was uncovered [16, 22, 26, 27] and insights on risks for financial abuse were made [28–31]. New measures or models to assess elder financial abuse were advanced [32–36]. In fact on further review, one in four vulnerable older persons was found at risk of financial exploitation and only a small portion of this abuse was being detected [37]. Certainly, the National Elder Mistreatment study (NEMS), a second large-scale study, confirms that abuse of the elderly is prevalent and increasing [21]. Using

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telephone survey of a nationally representative sample of elders by random digit dialing across geographic strata, of the 5777 respondents, the following results were reported: a 1 year prevalence of 5.2% of financial exploitation, 5.1% of potential neglect, 4.6% of emotional abuse, 1.6% of physical abuse, and 0.6% of sexual abuse. This was the first study to uncover the lead role that financial exploitation plays in the lives of its victims. Low social support, poor health, and required assistance with daily activities were predictors for such abuse. This observation was likewise found in the 2011 New York State Elder Abuse Prevalence Study (NYSEAPS). Using the same methodology as NEMS, it documented a dramatic gap between the rate of elder abuse events and those reported and referred to the New York APS system. The reported cumulative prevalence of 46.2 per thousand for all forms of self-reported abuse has a true incidence that may be 24 times this number and 44 times the rate of self-reported cases of financial exploitation in New York [38]. Financial exploitation, along with other forms of elder abuse, has profound consequences. In a study conducted by Burnett et al. [39], mortality risk was assessed for five different types of abuse that were experienced by older individuals. This study, involving 1672 cases of substantiated elder abuse, found that the frequency of various type of abuse included caregiver neglect (34%), polyvictimization (31%), emotional abuse (19%), financial abuse (9%), and physical abuse (7%). Though the highest percentage of deaths were within a category of caregiver neglect (35%), financial abuse was linked to 28% of the cases, with polyvictimization following at 21%, emotional abuse at 17%, and physical abuse at 15%. This study highlighted the impact of financial exploitation not just from a monetary standpoint but also from a mortality standpoint.

 onclusions and Future Directions in Curbing Financial C Exploitation in the Elderly Described are the incidence of financial abuse in the elderly, groups at risk, and perpetrators of such crimes in the United States. Although the “typical” victim is female, age 80–89, and often cognitively or physically impaired, these statistics could mislead and belie simplicity to what is a complex and overarching societal problem. Subgroup analysis reveals numerous victims across gender and all racial groups but with differing patterns of abuse. While the impact of this abuse is staggering in financial terms (by some estimates close to $2.9 billion annually), it is also devastating in personal terms and raises societal concerns over the safety of the ill, infirm, and most vulnerable. In addition, the complexity of interpersonal dynamics that figures closely into many of these exploitation events often centers around issues of privacy, autonomy versus safety, and the potential for financial devastation. Drawing the ethical and legal line of what constitutes financial abuse and the interplay of advancing cognitive impairment may represent some of the more

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difficult debates, as many of the perpetrators are often close family members with long-established and patterned relationships with the elderly victim. What is further concerning is the rising trend in victimization with financial exploitation up to 5.2% of elderly in the United States, especially as the country’s baby boomers continue to age into frailty and dependence in large numbers, creating an even bigger risk pool. Changing trends in victimization with more financial fraud in Medicare and Medicaid and confidence schemes and scams call for continued surveillance and public education. Not just following trends but studying these emerging patterns of abuse with strong judicial backup at the federal and state levels may be crucial to the protection of the elderly victim. While more education and support at the level of the aging individual and public are needed, education of those who serve as protectors of the ill and debilitated (medical personnel, doctors, social workers, caseworkers, elderly advocates, law enforcement, and lawyers) requires judicial support. Acknowledgments  The current author of this chapter for this edition would like to acknowledge the significant contributions of the prior edition’s authors of this chapter: Ann T. Riggs, M.D., C.M.D. Associate Professor of Medicine Donald W. Reynolds, Department of Geriatrics Paula M. Podrazik, M.D. Associate Professor of Medicine Donald W. Reynolds, Department of Geriatrics

References 1. Broken Trust: Elders, Family and Finances. Metlife Study, March 2009. Available from: http:// www.metlife.com/assets/cao/nmi/publications/studies/nmi-­study-­broken-­trust-­elders-­family-­ finances.pdf. 2. Aging into the 21st Century. Administration on Aging; modified 2011. Available from: http:// www.aoa.gov/AoARoot/Aging_Statistics/future-­growth/aging/21/health.aspx. 3. Sixty-five plus in the United States. U.S. Census Bureau Statistical Brief; 1995 May. Available from: http://www.census.gov/populaton/socdemo/statbriefs/agebrief.html. 4. Elder Maltreatment: Definition. Centers for Disease Control; 2010. Available from http:// www.cdc.gov/ViolencePrevention/eldermaltreatment/definitions.html. 5. National Center on Elder Abuse; 1998. Available from:http://www.ncea.aoa.gov/Main_ SiteFAQ/Basics/Types_Of_Abuse.aspx. 6. Older Americans Act and Aging Network. Section 102,18 A.  Exploitation Definition. Administration on Aging; modified 2012. 7. The National Elder Abuse Incidence study: Prepared for The Administration for Children and Families and The Administration on Aging in The U.S.  Department of Health and Human Services. Available from: http://www.aoa.gov/aoARoot/AOA_Programs/Elder_Rights/ Elder_Abuse. 8. Teaster TB.  A response to the abuse of vulnerable adults; The 2000 Survey of State Adult Protective Services; 2000. Available from: http://www.nceaao.gov/resources/publications/ docs/aps.reportto30703.pdf.

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9. Teaster TB, et al. Abuse of Adults 60 Years of Age or Older Report to the National Center on Elder Abuse, Administration on Aging Washington DC; 2004. The 2004 Survey of adult Protective Services. Available from: http://www.ncea.aoa.gov/ncearoot/main_site/ pdf/2-­14-­06%20FINAL%2060+REPORT.pdf. 10. Lauman EO. Elder mistreatment in the United States: prevalence estimates from a nationally representative study. J Gerontol Soc Sci. 2008;63B(4):S248–54. 11. Federal Trade Commission. (2019, October 18). Protecting Older Consumers 2018–2019: A Report of the Federal Trade Commission. Retrieved from https://www.ftc.gov/system/files/ documents/reports/protecting-­older-­consumers-­2018-­2019-­report-­federal-­trade-­commission/ p144401_protecting_older_consumers_2019_1.pdf 12. Elder justice and protection: Stopping the financial Abuse. Hearing before the Subcommittee on Aging; 2003 October. Available from: http:www.gpo.gov/fdsys/pkg/CHRG-­108shrg90305/ html/CHRG-­108shrg90305.htm 13. Hafemeister TL. Financial exploitation in domestic situations. In: Richard JB, Wallace RB, editors. Elder mistreatment: abuse, neglect, and exploitation in ageing America. Washington D.C.: The National Academies Press; 2003. p. 88–103. 14. Malks B, Buckmaster J, Cunningham L. Combating elder financial abuse: a multi-disciplinary approach to a growing problem. J Elder Abuse Neglect. 2003;15:55–75. 15. Choi NG, Mayer J. Elder abuse, neglect, and exploitation risk factors and prevention strategies. J Gerontol Soc Work. 2000;33(2):5–25. 16. Beach SR. Financial exploitation and psychological mistreatment among older adults: differences between African Americans and Non-African Americans in a population–based survey. The Gerontologist. 2010;50(6, 744) 17. Okonkwo O, et al. Cognitive correlates of financial abilities in mild cognitive impairment. J Am Geriatr Soc. 2006;4(11):1745–50. 18. Denburg NL, et al. The orbitofrontal cortex, real-world decision making, and normal aging. Ann N Y Acad Sci. 2007;1121:480–98. 19. Jackson SL, Haefemeister TL. Risk factors associated with elder abuse: the importance of differentiating by type for elder maltreatment. Violence Vict. 2011;26:738. 20. Crimes of occasion, desperation, and predation against Americas elderly. Metlife Study of Financial Abuse. 2011;1–25. 21. Aceierno R. Prevalence and correlates of emotional, physical, sexual, and financial abuse and potential neglect in the United States: the National Elder Mistreatment Study. Am J Public Health. 2010;100:202–97. 22. Christiansen MA.  Unconscionable: financial exploitation of elderly persons with dementia. Marquette Elder’s Advisor. 2008;2:383–416. 23. Garre-Olmo J, Planas-Pujol X, Lopez-Pousa S, Juvinya D, Vila A, et al. Prevalence and risk factors of suspected elder abuse subtypes in people aged 75 and older. J Am Geriatr Soc. 2009;57:815–22. 24. Guardianships: Cases of financial exploitation, neglect, and abuse of seniors (GAO-10-1046). Washington, D.C.: United States Government Accountability Office. General Accountability Office, 2009 September. 25. Lowenstein A, Eisikovits Z, Band-Winterstein T, Enosh G. Is elder abuse and neglect asocial phenomenon? Data from the First National Prevalence Survey in Israel. J Elder Abuse Neglect. 2009;21:253–77. 26. Bond JB Jr, Cuddy R, Dixon GL, Duncan KA, Smith D.  The financial abuse of mentally incompetent older adults: a Canadian study. J Elder Abuse Neglect. 1999;11(4):23–38. 27. Lee HY, Eaton CK. Financial abuse in elderly Korean immigrants: mixed analysis of the role of culture on perception and help-seeking intention. J Gerontol Social Work. 2009;52(5):463–88. 28. Bendix J. Exploiting the elderly. RN. 2009;72(3):42–6. 29. Black JA. The not-so-golden years: power of attorney, elder abuse, and why our laws are failing a vulnerable population. St John’s Law Rev. 2008;82:289–314.

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30. Buzgova R, Ivanova K.  Elder abuse and mistreatment in residential settings. Nurs Ethics. 2009;16(1):110–26. 31. Phillips LR, Guo G. Mistreatment in assisted living facilities: complaints, substantiations, and risk factors. The Gerontologist. 2011:1–11. https://doi.org/10.1093/geront/gnq122. 32. Anthony EK, Lehning AJ, Austin MJ, Peck MD.  Assessing elder mistreatment: Instrument development and implications for adult protective services. J Gerontologic Social Work. 2009;52(8):815–36, lect 14(2/3),9–31. 33. Conrad KJ, Iris M, Ridings JW, Langley K, Wilber KH.  Self-report measure of financial exploitation of older adults. The Gerontologist. 2010;50(6):758–73. 34. Goergen T, Beaulieu M. Criminological theory and elder abuse research — fruitful relationship or worlds apart. Ageing Int. 2010;35:185–201. 35. Hawes C, Kimbell AM. Detecting, addressing, and preventing elder abuse in residential care facilities. Report to the National Institute of Justice, US Dept. of Justice. (2010) Retrieved January 6, 2020 from www.ncjrs.gov/pdffiles1/nij/grants/229299.pdf. 36. Pinske DM, McFarland K, Pachana NK. Exploitation in older adults: social vulnerability and personal competence factors. J Appl Gerontol. 2010;29(6):740–61. 37. Cooper C, Selwood A, Livingston G. The prevalence of elder abuse and neglect: a systematic review. Age Ageing. 2008;37(2):151–60. 38. Lifespan of Greater Rochester Under the Radar: New  York Elder Abuse Prevalence Study. Self-Reported Prevalence and Documented Case Surveys. Final Report Executive Summary, 2011. Available from: http://www.nyselderabuse.org/prevalence-­study.html. 39. Burnett J, Jackson SL, Sinha AK, Aschenbrenner AR, Murphy KP, Xia R, Diamond PM. Five-­ year all-cause mortality rates across five categories of substantiated elder abuse occurring in the community. J Elder Abuse Negl. 2016;28(2):59–75. https://doi.org/10.1080/08946566.201 6.1142920.

Chapter 2

One Piece of the Puzzle – Financial Exploitation and Elder Abuse Sherif Soliman and Jason Beaman

Introduction True and current estimates of elder financial abuse are not known. A sentinel study in this arena is the 2009 MetLife Broken Trust study. This study estimates that the annual financial loss by senior citizens is 2.6 billion dollars [1]. It affects a wide array of victims and is committed by a diverse group of perpetrators ranging from close family members to professional con artists. In a 2011 follow-up study, MetLife found that the number had risen to 2.9 billion dollars [2]. Even that higher number is likely an underestimate since it is based on a survey of cases reported in the media. In fact, a 2015 survey by True Link Financial, a firm that specializes in financial products designed to protect elder investors, estimates the loss at 36.48 billion dollars a year [3]. The National Center on Elder Abuse defines elder financial abuse broadly as “theft, fraud, misuse or neglect of authority, and use of undue influence as a lever to gain control over an older person’s money or property” [4]. This type of abuse takes many forms, including “cashing an older person’s checks without authorization or permission; forging an older person’s signature; misusing or stealing an older person’s money or possessions; coercing or deceiving an older person into signing any document; and the improper use of conservatorship, guardianship, or power of attorney” [4]. Elder financial abuse can co-occur in the context of other forms of abuse such as physical abuse (hybrid financial abuse) or by itself (pure financial abuse). Hybrid financial abuse differs from pure financial abuse by methods used,

S. Soliman (*) Forensic and Geriatric Psychiatry, Atrium Health, Charlotte, NC, USA J. Beaman Department of Psychiatry and Behavioral Sciences, Oklahoma State University Center for Health Sciences, Tulsa, OK, USA © Springer Nature Switzerland AG 2021 R. M. Factora (ed.), Aging and Money, https://doi.org/10.1007/978-3-030-67565-3_2

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offender profile, and victim profile. Thus, elder financial abuse is both one piece of the broader puzzle of elder abuse and a puzzle onto itself. In addition to elder financial abuse, there are four other types of elder abuse: physical abuse, emotional abuse, sexual abuse, and neglect (including self-neglect). Physical abuse refers to the “use of physical force that may result in bodily injury, physical pain, or impairment” [4]. Emotional abuse is “the infliction of pain, anguish, or distress through verbal or nonverbal acts” [4]. Sexual abuse is “nonconsensual sexual contact of any kind with an elderly person” [4]. Neglect is the “refusal or failure to fulfill any part of a caregiver’s obligation or duty to an elder” [4]. Elder financial abuse has been called the crime of the twenty-first century. The costs are staggering and the effect on victims is often devastating. Victims are often left destitute and homeless. They lose the liberty to manage their own affairs because they require guardianship to stop the financial abuse and protect them against further abuse. Elder financial abuse is expected to continue to increase secondary to a perfect storm of demographic, economic, and technological factors and physical or cognitive factors. First, the population of adults over 60 years of age increased 35% from 52.5 million to 70.8 million from 2007 to 2017. Projections for 2040 indicate that the number of individuals over the age of 85 will increase from 6.5 million in 2017 to 14.4 million [5]. Second, older individuals have more wealth to be exploited. According to Forbes Magazine, the Silent Generation (individuals born between 1925 and 1942) experienced the largest growth in wealth over all other age groups. This cohort has 1.3 times the amount of Boomers (1944 and 1964), twice the amount of Generation X (1965 and 1979), and 23 times the wealth of Generation Y (also known as Millennials, 1980–1994) [6]. Third, technological advances such as online banking and stock trading have made money management more complex and have made perpetrating large-scale fraud easier. Fourth, elderly victims often have physical or cognitive limitations that render them both more dependent on others and less able to critically evaluate potential scams. This chapter will discuss elder financial abuse as part of the broader problem of elder abuse. It will outline the scope of the problem of elder financial abuse, the types of financial abuse, victim profiles, and perpetrator profiles. It will discuss undue influence as a unique mechanism of elder financial abuse. It will offer recommendations for a multidisciplinary approach to preventing and combatting elder financial abuse.

Scope of the Problem Elder abuse in general often goes unreported. One study found that for every case that is reported, 24 are not [7]. This study found that this was much higher for financial abuse, a ratio of 43.9 cases for every one reported [5]. Also, there is variability in data collection, which is believed to contribute to the large gap between reported and actual cases [7]. Elder financial abuse goes unreported for several reasons. Victims often fear reporting because of safety concerns. They may be unaware that they are being

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exploited because of lack of control over their finances. Some victims believe that the perpetrators are actually acting in their best interest. Victims do not report the abuse out of embarrassment. Finally, some victims don’t report because they feel loyalty toward the perpetrator, especially when the perpetrator is a close family member. With these caveats, studies have varied in their estimates of the prevalence. The prevalence is listed as 5.2% [8], 1.3% [9], and 1.4% [10]. Rates are different within cultural groups. The Latino population has rates as high as 16.7% [11]. Non-white persons have an odds ratio of 1.29 for financial mistreatment [8]. Financial abuse often co-occurs with other types of elder abuse. One study suggested a rate as high as 21% of multiple types of abuse [12]. The National Elder Abuse Incidence Study of 1998 estimated that there were 449,924 cases of elder abuse (551,011 including self-neglect) [11]. Of the confirmed cases that they reviewed, 30.2% were of elder financial abuse [11]. A subsequent survey by the National Center on Elder Abuse found that Adult Protective Services in 2004 found that there were 565,467 cases of elder and vulnerable adult abuse reported to state Adult Protective Services agencies, a 19% increase from the 2000 survey [13]. Of these reports, 253,426 concerned adults aged 60 and older. Among the cases investigated by Adult Protective Services agencies, 20.8% were cases of elder financial abuse. Self-neglect was the most common form of elder abuse, accounting for 26.7% of investigated cases followed by caregiver neglect (23.7%), emotional abuse (13.6%), physical abuse (12.5%), and sexual abuse (0.7%). Looking at substantiated cases of elder abuse yields a largely similar picture: self-neglect (37.2%), caregiver neglect (20.4%), emotional abuse (14.8%), financial abuse (14.7%), physical abuse (10.7%), and sexual abuse (1%) [13].

Pure Financial Abuse Versus Hybrid Financial Abuse Pure financial abuse is the abuse that occurs in the absence of other forms of elder abuse. This phenomenon differs significantly from hybrid financial abuse, which occurs concurrently with other forms of elder abuse, such as physical or emotional abuse. In a 2011 report to the US Department of Justice, Jackson and Hafmeister interviewed 71 elderly victims of financial exploitation in Virginia and the Adult Protective Services worker for each victim in order to examine financial exploitation of the elderly compared to other forms of elder abuse [14]. One portion of the study compared victims and perpetrators of pure financial abuse to those of hybrid financial abuse. Pure financial abuse is more likely to be perpetrated by nonfamily members (compared to hybrid financial abuse). Compared with victims of hybrid financial abuse, these victims tend to live alone, are more financially and physically independent, are younger in age, and have less cognitive and communication difficulties. Hybrid financial abuse is usually perpetrated by family members or caregivers [14]. The victims tend to be older, more physically and financially dependent,

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more impaired, more isolated, and in poorer health [14]. The victims often live with the perpetrators and perceive the perpetrators as being supportive [14]. The perpetrators were unemployed and financially dependent on the victims [14].

Types of Elder Financial Abuse Elder financial abuse can be categorized into three types based upon the context of the abuse: occasion, desperation, and predation [2]. Crimes of occasion occur when a perpetrator, who otherwise would not commit financial exploitation, is placed in a situation where he/she has the opportunity to commit financial abuse. Crimes of desperation are acts of financial abuse because the perpetrator is in dire financial straits and will do anything to obtain money. Crimes of predation, as the name implies, are acts of abuse in which the perpetrator actively seeks out vulnerable victims. Some instances of elder financial abuse have elements of more than one type. The prototypical crime of occasion occurs when a family member or trusted friend exploits a senior relative who has recently become vulnerable by virtue of illness, loss, or isolation. The “occasion” of the victim’s vulnerability can create opportunities for would-be perpetrators in unusual ways. When 83-year-old Anna Mae Franklin discovered that her recently widowed brother, Arthur Cropsey [91], suffered from Alzheimer’s disease, she immediately moved him into her home and helped manage his finances using a power of attorney. Unbeknownst to her, she created an opportunity for financial abuse. She discovered that her daughter had been spending large amounts of his money. She took the painful step of reporting her daughter, who was subsequently court ordered to pay back $40,000 [15]. William Shakespeare’s admonition, “Tempt not a desperate man,” is as true today as it was in 1595 [16]. Desperation can turn caring family members into perpetrators of financial abuse who drain the assets of their parents and grandparents. Crimes of desperation are often committed by family members and can take many forms such as borrowing excessive amounts of money and not returning it, committing fraud, or extorting money with threats. The common theme in this category is that the crime would not otherwise be committed aside from circumstances of the perpetrator. These crimes often involve escalating steps of exploitation. It may start with borrowing money with honest intentions and escalate as the perpetrator becomes more desperate. Not surprisingly, perpetrators of crimes of desperation tend to be financially dependent on the elder and are more likely to be addicted to drugs or alcohol. More men than women commit crimes of desperation [2]. The perpetrator may rationalize by believing that they are due compensation for the care they provide. This can facilitate the crime to continue as long as they are involved in the victim’s life. Predation is the act of seeking out the victim intentionally to form a relationship, which will allow the abuse. This involves seeking out a new romantic or financial relationship with the specific intent of exploiting the elder for financial gain. The

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perpetrators are usually strangers and can be professional con artists. This crime can be perpetrated by an unscrupulous professional who seek these victims out. These professionals have financial access to the elders, including stockbrokers, financial advisors, and insurance agents, among others. There have been reports of religious personalities and political parties also exploiting the elderly. However, it is important to note that this does not usually involve the formation of a relationship for that purpose [2]. Unfortunately, as technology has advanced and finances have become more complex, con artists have found virtually limitless ways to prey upon their victims. The National Council on Aging provides a list of the top ten scams targeting seniors [17]. The most common was healthcare fraud. Perpetrators pose as healthcare providers and offer fraudulent services in makeshift “clinics.” They then bill Medicare for these fraudulent services. Other common scams include reverse mortgage fraud, telemarketing fraud, and fraudulent investments. One particularly cruel hoax is the “grandparent scam.” The perpetrator calls and immediately greets the victim as “grandma” or “grandpa.” They then tell the victim that they are in trouble and need money wired immediately. They beg the unsuspecting victim not to tell their parents. The faces of elder financial abuse are diverse and expanding. The different forms of elder financial abuse occur in unique settings, by a wide variety of perpetrators, and against a wide array of seniors. Table  2.1 summarizes the different signs of Table 2.1  Signs of potential financial exploitation by category [11, 18] Type Social

Signs Stranger suddenly befriends elder and becomes close very quickly Previously uninvolved family members suddenly become involved and claim rights to the elder’s funds The elder becomes isolated from prior contacts Medical Elder appears to be receiving substandard care despite adequate resources Elder suddenly can no longer afford medications and copays Elder displays other signs of abuse and neglect such as dehydration, bruising, bedsores, malnutrition Caregiver refuses to allow elder to be interviewed alone Elder depressed and helpless A new physician is sought out to complete an evaluation for guardianship by the caregiver Financial Unexplained withdrawals of large sums of money Previously independent elder is accompanied to financial institutions Checks written by elder to “cash” or to single individual for large sums of money Change of beneficiary on elder’s accounts Discovery that elder’s signature has been forged Sudden addition of previously uninvolved person to elder’s bank or credit card accounts Legal Unexplained changes in longstanding will or trust Changes in will procured by a third party New attorney retained by a third party to change the elder’s will Elder brought to the attorney’s office by the beneficiary of changes to the elder’s will

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financial exploitation that may be encountered. Whether the crime is one of occasion, desperation, or predation, it exacts a devastating toll on its victims. Victims become hurt, ashamed, depressed, and sometimes destitute.

Victims and Perpetrators Victim and perpetrator profiles vary based upon the type of elder abuse and the context in which it occurs (domestic vs. institutional). We will begin by reviewing briefly the common characteristics of victims and perpetrators of elder abuse in general and then discuss the characteristics of financial exploitation victims and perpetrators. In general, victims and perpetrators of hybrid financial exploitation more closely resemble those of elder abuse in general. Pure financial exploitation is a distinct entity in that it is committed by a different group of perpetrators, affects a relatively higher functioning group of victims, and is more likely committed by professional con artists.

Victims In the 2004 Survey of Adult Protective Services, the majority of victims by sex were female (65.7%). By age, most victims were above 80 (42.8%). By race, most victims were Caucasian (77.1%). By location, the majority of abuse occurred in domestic settings (89.3%) [13]. While the elderly as a group are at increased risk for financial abuse, there are unique risk factors that place victims at especially high risk. They can be divided into physical, psychiatric, and social risk factors. Physical risk factors include advanced age (75 or older), limited mobility, sensory impairment, frailty, and organic brain damage [18]. Psychiatric risk factors include dementia, mental illness, especially depression, and personality disorders that cause isolation (avoidant and schizoid) [18]. Social risk factors include recent loss of spouse, female gender, living alone, living with the suspected perpetrator, and owning a home [18]. Victim profiles differ based upon the type of financial abuse. Victims of pure financial exploitation tend to be higher functioning, have less cognitive impairment, live alone, have no children, have no communication problems, and have a good relationship with the perpetrator [14]. In contrast, victims of hybrid financial abuse tend to be older, are dependent on the perpetrator, have more cognitive impairment, be isolated, be widowed, live with the perpetrator, and be in poorer health. In addition, victims of hybrid financial abuse were likely to have a longer history of abuse and have a childhood history of abuse compared to victims of pure financial abuse [14].

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Perpetrators In the 2004 Survey of Adult Protective Services, perpetrators were slightly more likely to be female (52.7%). The most frequent perpetrators of elder abuse were adult children (32.6%). More than two-thirds of perpetrators were under age 60 (75.1%) [13]. There are some differences between male and female perpetrators and between perpetrators of different types of financial abuse. Approximately 60% of perpetrators are males between the ages of 30 and 59 [2]. Male perpetrators have such traits as antisocial personality disorder, being caregivers, living with the victim, being economically dependent on the victim, and have a history of mental illness or substance abuse [18]. They also themselves have health problems [18]. Most female perpetrators are between the ages of 30 and 49 [2]. Other characteristics of female perpetrators include having a caregiving relationship with the victim and instilling a sense of helplessness and dependency. Female perpetrators will often isolate the victim from family and friends, often acting as a protector. Female perpetrators also have a history of multiple unstable relationships and will falsify personal information (such as credentials or roles) [18]. They are opportunistic and psychologically dysfunctional [18]. They exhibit predatory behavior and like males, females can also have antisocial personality traits. Female perpetrators will methodically identify victims that they can exert total control over [18]. This control will then be used to implement the exploitation. Hybrid financial abuse is more likely to be perpetrated by parasitic abusers (financially dependent on the victim) who are related to the victim and unemployed [14]. In contrast, perpetrators of pure financial exploitation are more likely to be nonrelatives, not parasitic, and less likely to have a history of domestic violence [14].

Undue Influence and the Psychodynamics of Exploitation One of the most important mechanisms used to commit elder financial abuse is undue influence. Undue influence is “any act of persuasion that overcomes the free will and judgment of another” [19]. Undue influence occurs when a vulnerable person’s will is subjugated to the desires of another person. The doctrine of undue influence has typically been applied to wills. However, it is also applied to inter vivos gifts or gifts given while the elder is living. Undue influence begins with a susceptible victim. As discussed above, indicators of victim susceptibility include physical or mental illness, dementia, recent loss, or isolation. It should be noted that many of the traits often co-occur (such as the wife who recently lost her husband and is now isolated). The psychological process of exerting undue influence upon another has been likened to other processes of exploitation. These include intimate partner violence and the process of indoctrination used by cults.

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Psychologist Margaret Singer has identified six psychological mechanisms used by perpetrators of undue influence: isolation, creating a siege mentality, fostering dependence, creating a sense of powerlessness, creating fear and vulnerability, and keeping the target unaware [20]. Similar psychological factors have been descried in domestic violence and elder abuse. Isolation is one of the most significant risk factors for elder financial exploitation. Many victims of elder abuse are already isolated, making them more vulnerable to the advances of the perpetrator. Methods of isolation include limiting visits, blocking telephone calls and other communication, and using deception to turn the victim against family and friends. The perpetrator may extend that isolation by convincing or compelling the victim to switch to new physicians, attorneys, or financial planners. This also makes it less likely that the abuse will be detected because the new providers are less familiar with the victim, his/her health status, and his/her previously expressed wishes with regard to financial management and estate planning. Perpetrators create a “siege mentality” by portraying the outside world as a dangerous place and portraying themselves as protectors. They may falsely accuse family members or trusted friends of trying to harm or take advantage of the elder. They foster a sense of powerlessness, fear, and vulnerability by convincing the elder that he/she is not capable of managing their affairs alone and that harm would befall them but for the perpetrator’s “help.” They foster a sense of dependence by gradually seizing control of the victim’s assets, and in many cases, the victim’s ability to make even basic decisions. The sense of dependence is deepened because the perpetrator often indoctrinates the victim with exaggerated or fabricated claims of how dangerous it would be for the victim to manage his/her own affairs. Finally, they necessarily keep the target unaware throughout this process. While we often think of victims of elder abuse as frail and powerless, anyone can become a victim of elder abuse. On March 2, 2011, famed actor Mickey Rooney (then 90) testified before the Senate Select Committee on Aging about his longstanding elder abuse [21]. He alleged that his stepson and stepdaughter neglected him, emotionally abused him, and financially exploited him. In his testimony, he described several of the psychological aspects of elder abuse and exploitation: What other people see as generosity may, in reality, be the exploitation, manipulation, and sadly, emotional blackmail of older, more vulnerable members of the American public. I know because it happened to me. My money was taken and misused. When I asked for information, I was told that I couldn’t have any of my own information. I was told it was “for my own good” and that “it was none of my business.” I was literally left powerless. You can be in control of your life one minute and in the next minute, you have absolutely no control. Sometimes this happens quickly, but other times it is very gradual. You wonder when it truly began. In my case, I was eventually and completely stripped of the ability to make even the most basic decisions in my own life [21].

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Mickey Rooney described feeling powerless, being told that he couldn’t manage his own affairs, and not realizing when he lost control of his basic decision-making. There are aspects of relationships, the so-called “red flags,” that can give rise to undue influence. These red flags include secluding, providing attention, acceptance, and approval, fostering regression and dependence, depriving the victim of physical and mental privacy, indoctrination, reinforcing the new beliefs and behaviors, and disparaging independent thought [22]. Undue influence is a special mechanism for perpetrating elder financial abuse and a basis for overturning wills. However, the elements of undue influence are not unique and are often present in abusive relationships in general. Table 2.2 summarizes many of the techniques used by perpetrators in their efforts to take advantage of vulnerable older persons. A greater discussion of this topic is addressed in Chap. 4. Table 2.2  The Perpetrator’s Playbook: Psychology of Exploitation and Undue Influence [20] Technique Isolation

Creating a “siege mentality”

Creating dependence

Fostering powerlessness Creating fear and vulnerability

Keeping target unaware

Tactics Depriving person of physical and mental space Discouraging communication Physically secluding Socially secluding

Examples Moving to new area Preventing mail from being viewed Preventing telephone calls Preventing participation in social groups such as clubs or religious groups Suggesting that family and friends are Portraying world as dangerous trying to steal money Financial fears Describing crime in area around “Exposing” trusted professionals as attempting to con the elder elder Continuously discussing crimes in area Discussing physical dangers such as car accidents and falls Not allowing elder to do previous tasks Emphasizing elder’s physical such as basic housework impairments Emphasizing intellectual deficits Discouraging walks and other exercise Discouraging elder from doing his/her Emphasizing emotional finances vulnerabilities Taking over prior roles Doing everything for elder such as shopping, bills, housework Casting previously trusted family Telling the elder he/she has already members and others as villains been victim of theft from family or professionals Emphasizing dangers Cutting off communication Not telling elder when family calls Not delivering letters or e-mails Not delivering bills that the elder would recognize as bogus

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 ombatting Elder Financial Abuse as Part of an Overall C Strategy Against Elder Abuse Fighting elder financial abuse requires a multimodal strategy that focuses on prevention, detection, protection, and deterrence. Prevention of elder financial abuse is accomplished by educating seniors about elder financial abuse, about common scams targeting the elderly, and resources in the community to combat elder financial abuse. In addition, educating caregivers, physicians, attorneys, and financial professionals about the signs of elder financial abuse can help detect financial abuse in the early stages and thereby mitigate the damage. It is also important to educate professionals about mandatory reporting requirements as misconceptions about reporting requirements often cause professionals to fail to report suspected abuse.

Detection A multidisciplinary approach to the detection of elder financial abuse is required. The key professionals involved are caregivers, Adult Protective Services workers, physicians and other healthcare professionals, attorneys, and financial professionals. The indicators of financial abuse can be categorized into subsets pertinent to each discipline. The Elder Abuse Incidence Study found that most elder abuse by others was reported by family members (20%), followed by hospitals (17.3%), police (11.3%), in-home caregivers (9.6%), friends or neighbors (9.1%), victims (8.8%), physicians and nurses (8.4%), out-of-home service providers (5.2%), and banks (0.4%). The top three reporters of financial exploitation were friends and neighbors (15%), hospitals (14.2%), and family members (14%) [11]. Caregivers (especially family members) are in an ideal position to notice if the elder suddenly befriends a new person and begins to transfer significant sums of money to that person. In fact, the majority of reports of elder abuse are already made by family members. Healthcare professionals are often an early line of defense because the elderly often have frequent contact with them. Physical abuse or neglect is likely to be more apparent to the healthcare provider than financial exploitation, so it is important for providers to consider financial exploitation whenever they identify other forms of elder abuse. Healthcare providers should suspect elder financial abuse if their patient appears to be living substantially below their means, if the caregiver is managing the elder’s funds but not providing basic necessities, if the elder has a sudden apparent decline in socioeconomic status, and if the caregiver insists on being present during every aspect of the examination though the senior appears capable of providing information. Physicians and other healthcare professionals may consider utilizing a standardized instrument to detect elder abuse, many of which contain questions relevant to financial abuse [23].

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Attorneys should be educated about issues of financial exploitation and undue influence as they pertain to the preparation of wills, trusts, and powers of attorney. Changes in longstanding testamentary privileges, unnatural provisions added to a will, or changes in wills that are procured by a third party (especially if that party benefits from the change) should arouse suspicion. Changes in multiple instruments at the same time (e.g., will and power of attorney) should arouse suspicion that effective control of a victim’s affairs is being transferred. Financial professionals can also play a key role in detecting elder financial abuse. Suspicion should be aroused by unnatural changes in beneficiaries on accounts such as removing longstanding beneficiaries in favor of new people, changes in the elder’s spending patterns, and suddenly liquidating accounts. The Investor Protection Trust has published a checklist and pocket guide for investment professionals to help them identify suspected cases of financial exploitation [24].

Protection Once elder abuse has been detected, protection of the victim is the first priority. Adult Protective Services can investigate the alleged abuse and arrange for the victim to be removed immediately if there is imminent danger to the victim. In the case of physical abuse, sexual abuse, or neglect, the victim almost always requires immediate medical attention. Once abuse is uncovered and the victim is safe, it is important to take legal steps to restrict the perpetrator’s access to the victim’s funds. The specific steps will depend upon the legal mechanisms the perpetrator used to gain access to the victim. For example, if the perpetrator has obtained guardianship over the victim, the court of jurisdiction will need to be informed of the abuse and a petition filed to remove the guardian. A new guardian may be needed if the victim does indeed require guardianship. The next step is protecting the senior from further abuse. The specific interventions required will depend upon the elder’s capacities, impairments, and needs. They will also depend upon the type of abuse suffered and the identity of the perpetrator. Prosecuting cases of elder abuse is important in order to obtain justice for the victims, collect restitution (often not possible because abusers have spent the money and have few assets), and deter further abuse. Many con artists prey upon the elderly precisely because they believe the victims would make poor witnesses in court.

Conclusion Financial exploitation is part of the growing problem of elder abuse. It can occur alone or in conjunction with other forms of elder abuse. It consists of three categories: crimes of occasion, crimes of desperation, and crimes of predation. The faces of elder financial abuse, both perpetrators and victims, vary significantly based upon

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whether the financial abuse occurs alone or with other forms of abuse. The psychodynamics of elder financial abuse, like other forms of abuse, are marked by isolation, creating a “siege mentality,” creating a sense of fear and vulnerability, creating powerlessness, fostering dependence, and keeping the victim unaware. Combatting elder financial abuse must be part of the broader strategy of fighting elder abuse. It will require a multidisciplinary approach. Healthcare professionals, attorneys, and financial professionals can all be instrumental in detecting, reporting, and stopping abuse. Combatting the crime of the twenty-first century must be our top priority. Our parents and grandparents deserve no less.

References 1. Broken Trust: Elders, Family, and Finances. A study on elder financial abuse prevention. Published online march 2009. https://www.giaging.org/documents/mmi-­study-­broken-­trust-­ elders-­family-­finances.pdf. Accessed May 30 2020. 2. The MetLife study of elder financial abuse: crimes of occasion, desperation, and predation against America’s elders. 2011. Available from: http://www.metlife.com/assets/cao/mmi/publications/studies/2011/mmi-­elder-­financial-­abuse.pdf. 3. The True Link Report on Elder Financial Abuse 2015. https://d1qqb8hu7huvwj.cloudfront. net/uploads/2019/07/True-­Link-­Report-­On-­Elder-­Financial-­Abuse-­012815.pdf. Accessed July 3 2020. 4. Red Flags of Abuse. National Center on Elder Abuse. Available from: https://ncea.acl.gov/ NCEA/media/docs/Red-­Flags-­of-­Elder-­Abuse-­English.pdf. Accessed May 30 2020 5. 2018 Older Americans Profile. Administration for Community Living. Published online 2018. https://acl.gov/sites/default/files/Aging%20and%20Disability%20in%20America/2018Older AmericansProfile.pdf. Accessed May 30 2020. 6. Howe N.  The Graying of wealth. Forbes. March 16, 2018. https://www.forbes.com/sites/ neilhowe/2018/03/16/the-­graying-­of-­wealth/. 7. Under the Radar: New York State Elder Abuse Prevalence Study. Lifespan of Greater Rochester, Inc., Weill Cornell Medical Center of Cornell University, New  York City Department for the Aging. May 2011. https://ocfs.ny.gov/main/reports/Under%20the%20Radar%2005%20 12%2011%20final%20report.pdf. 8. Aciemo R. Prevalence and correlates of emotional, physical, sexual, and financial abuse and potential neglect in the United States: the national elder mistreatment study. Am J Public Health. 2010;100(2):292–7. 9. Cooper C.  The prevalence of elder abuse and neglect: a systematic review. Age Ageing. 2008;37:151–60. 10. Comi HC. Elder abuse in the community. J Am Geriatr Soc. 1998;46(7):885–8. 11. Tatara T, Kuzmeskus LB, Duckhorn E, Bivens L, Thomas C, Gertig J, Jay K, Hartley A. September 1998. The National Elder Abuse Incidence Study. https://acl.gov/sites/default/ files/programs/2016-­09/ABuseReport_Full.pdf. 12. DeLiema M.  Determining prevalence and correlates of elder abuse using promotores: low-­ income immigrant Latinos report high rates of abuse and neglect. J Am Geriatric Soc. 2012;60(7):1333–9. 13. The National Committee for the Prevention of Elder Abuse and The National Adult Protective Services Association. The 2004 survey of state adult protective services: abuse of adults 60 years of age and older. February 2006. Available from: http://www.ncea.aoa.gov/ncearoot/ main_site/pdf/2-­14-­06%20final%2060+report.pdf.

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14. Jackson SL, Hafemeister TL. Financial abuse of elderly people vs. other forms of elder abuse: assessing their dynamics, risk factors, and society’s response. Presented to the National Institute of Justice, U.S.  Department of Justice, August 2010. Available from: https://www. ncjrs.gov/pdffiles1/nij/grants/233613.pdf. 15. Donahue K. One woman’s story of elder financial abuse. Marketplace: your money. American Public Media. Aired November 16, 2012. Available from: https://www.marketplace. org/2012/11/16/one-­womans-­story-­elder-­financial-­abuse/. Accessed May 31 2020. 16. Shakespeare W, Durband A. Romeo and Juliet. Woodbury: Barron's. Act 5, Scene 3, Page 3. 1985. 17. National Council on Aging. The top ten scams targeting seniors. Available at: http://www. ncoa.org/enhance-­economic-­security/economic-­security-­Initiative/savvy-­saving-­seniors/ top-­10-­scams-­targeting.html. Accessed May 31 2020. 18. Hall RCW. Exploitation of the elderly: undue influence as a form of elder abuse. Clin Geriatrics. 2005;13(2):28–35. 19. West’s Encyclopedia of American Law online edition. Available from: http://www.encyclopedia.com/doc/1G2-­3437704489.html. 20. Singer MT Undue influence and written documents: psychological aspects. Journal of Questioned Examination. 1992. Available from: http://www.csj.org/pub_csj/csj_vol10_ no1_93/influence_written.htm. Accessed May 31 2020. 21. Testimony of Mickey Rooney, Senate Special Committee on Aging. March 2, 2011. Available from: https://www.aging.senate.gov/imo/media/doc/hr230mr.pdf. 22. Spar JE, Garb AS. Assessing competency to make a will. Am J Psychiatry. 1992;149:169–74. 23. Fulmer T, Guadagno L, Bitando-Dyer C, Connolly MT. Progress in elder abuse screening and assessment instruments. J Am Geriatr Soc. 2004;52:297–304. 24. Investor Protection Trust. Pocket guide on elder investment fraud and financial exploitation. Available from https://www.nasaa.org/wp-­content/uploads/2011/08/EIFFE-­Clinicians-­ Pocket-­Guide.pdf. Accessed May 30 2020.

Chapter 3

Barriers to Recognition Ronan M. Factora

My money was stolen from me. I was eventually stripped of the ability to make even the most basic decisions… my daily life became unbearable [1].

Hollywood movie star Mickey Rooney’s experience of being financially exploited was brought to the public eye during the Senate Special Committee on Aging, March 2, 2011. In spectacular fashion, he provided the grim details of how he was isolated and taken advantage financially of by none other than his family. Though his experience is not necessarily unique, the public attention to his testimony once again brought to light how vulnerable our older citizens are to this type of abuse.

Who Reports Despite the studies of the prevalence and incidence of this problem (detailed in Chap. 1), the onus falls on the victim and those interacting with this individual to bring attention to the abuse. Self-report of elder mistreatment of abuse, though, seldom occurs. Several studies find that 70% or more of cases of elder abuse are not self-reported. The responsibility thus falls on the community and those interacting with victims to report the abuse.

R. M. Factora (*) Cleveland Clinic Lerner College of Medicine at Case Western Reserve University, Cleveland Clinic, Cleveland, OH, USA e-mail: [email protected] © Springer Nature Switzerland AG 2021 R. M. Factora (ed.), Aging and Money, https://doi.org/10.1007/978-3-030-67565-3_3

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In all 50 states and the District of Columbia, mandatory reporting laws exist requiring those in the healthcare field to report suspected or confirmed elder abuse. Approximately 30 states require reporting only by persons specifically listed in that state’s statute. The most common listed mandatory reporters include health care providers, human services providers, and law enforcement. Sixteen states require reporting by any person having reason to believe abuse has taken place. At least 30 states have penalties for failing to report elder abuse. This may include reporting a licensed professional’s failure to maintain this obligation to the appropriate licensing board. The definition of who is considered a mandated reporter varies from state to state, but can include more than just health care personnel and those involved in law enforcement. Table  3.1 lists the mandated reporters for the states of Ohio and California. Clearly, other disciplines beyond those involved in direct health care delivery may be obligated to report suspected abuse. This includes clergy, employees at adult day care facilities (which could include custodial staff, cafeteria staff), and (in California) employees of animal control services. Though not explicitly identified in California, individuals involved in the management of an elder’s financial affairs (including those in the finance or banking industry) could fall into the category of “administrators, supervisors, and any licensed staff of a public or private facility that provides care or services for older persons or dependent adults.” The addition of similar disciplines to the list of mandated reporters was implemented into the Ohio statues in 2019. It is important to be familiar with what the laws state in one’s own residence. When reported in good faith, mandated reporters are protected from litigation for reporting suspected abuse by state laws. Confidentiality of the mandated reporter is maintained to encourage greater reporting of suspected cases. In one study looking at who reports suspected elder abuse, the vast majority of reports come from the community (Fig. 3.1). Social workers and mental health personnel comprise another large fraction of reporters, followed by non-physician health care workers. In this survey, physicians were the least likely to report any cases of abuse [2]. Table 3.1  Mandated reporters for suspected elder abuse (examples from Ohio and California) Ohio: Any attorney, physician, osteopath, podiatrist, chiropractor, dentist, psychologist, hospital employee, licensed nurse, ambulatory health facility employee, home health agency employee, adult care facility employee, nursing home employee, residential care facility employee, home for the aging employee, senior service provider, peace officer, coroner, clergyman, community mental health facility employee, and a person engaged in social work or counseling. In 2019, the following professions were also added to the list of mandated reporters:  Pharmacists  Employees of outpatient health facilities  Firefighters  Employees of the health department  Ambulance drivers  First responders  Building inspectors

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3  Barriers to Recognition Table 3.1 (continued)

 Certified public accountants  Bank, savings and loan, and credit union employees  Real estate brokers or agents  Notary publics  Investment advisors  Accredited financial planners California: “Any person who has assumed full or intermittent responsibility for care or custody of an elder or dependent adult, whether or not that person receives compensation, including administrators, supervisors, and any licensed staff of a public or private facility that provides care or services for elder or dependent adults, or any elder or dependent adult care custodian, health practitioner, or employee of a county adult protective services agency or local law enforcement agency is a mandated reporter” (Welfare and Institutions Code Section 15630, see Appendix 5). Examples of who must report:  Care custodians  Health practitioners  County welfare departments  Employees of law enforcement agencies  Employees of fire departments  Employees of humane societies and animal control agencies  Employees of environmental health and building code enforcement  Clergy members  Any other protective, public, sectarian, mental health, private assistance, or advocacy agency, or person providing health services or social services to elders or dependent adults  Any person who has assumed full or intermittent responsibility for care or custody of an elder or dependent adult

Physician

Non-Physician HCP

SW, Mental Health

Law Enforcement

Community

Fig. 3.1  Result of survey determining reporters for suspected elder abuse [2]

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Barriers to Self-Reporting Many reasons exist explaining why victims of elder abuse do not report the events. Isolation of potential victims is often a barrier to detection and reporting of abuse. Abusers may achieve this by denying these persons physical access to friends, communication to friends and family (e.g. telephone, social media), or denying/ preventing excursions from home except for medical visits. Contact with individuals outside of the home may be prohibited by the perpetrator through threatening behavior or by creating an environment of conflict that could make the visitors feel uncomfortable. Friends and family members who would be able to intervene may be driven away by this behavior, leaving the victim even more isolated. The perpetrator’s behavior may subsequently escalate, leading to a perpetual cycle of isolation and abuse. One study comparing elder abuse victims with a control group found that abused older persons did appear more isolated [3], and they tended to have fewer overall contacts and to feel negatively about their social situations. Victims of elder abuse may believe that they are responsible for the abuse or that they pose a burden on their caregivers. These feelings of lack of self-esteem represent this population’s own “ageism” or feelings of self-blame. They may consequently feel that their mistreatment is deserved. When a family member is the abuser, the victim often does not want to report them. These individuals often feel shame, guilt, and fear in these circumstances [4]. Some older persons may believe that occurrence of the abuse itself may be an indicator that they are no longer able to manage themselves independently, and that this may lead to the appointment of a guardian and further loss of independence. Domestic violence victims as well as elder abuse victims may be reluctant to change their situations, particularly for fear of ending up alone or putting the abuser at risk (e.g. incarcerated, homeless) as a result of filing a report. Many fear that institutionalization may be the only alternative solution to tolerating abuse, as the perpetrator may be the only individual that the victim may rely on. As such, legal action against the abuser may not even be an option for the victim. Victims may demonstrate tremendous loyalty to their abuser and minimize their feelings and symptoms, even to their healthcare provider. This behavior may persist even if the issue is acknowledged or brought up at all by the victim. The value of these close personal ties often overrides any injury they may suffer from their perpetrators. Cultural and language barriers may also prevent victims from reporting elder abuse and mistreatment. If individuals are not able to effectively describe or explain their circumstances to those they wish to report the abuse to, action may be limited. Lack of ability to speak English along with a fear of abandonment from their society may prevent reporting. Various cultural groups traditionally hold elders in positions of respect and esteem. Often, elders expect to be cared for by family. When these members are no longer willing or able, the elders may become vulnerable to abuse. These obligations may even be resented by family members, leading to abusive situations [5]. Embarrassment on the part of the victim may prevent them from reporting abuse to

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a representative of their own community, much less individuals who are not of their cultural background. It is not uncommon for various cultural groups to feel that “outsiders should not be aware of their affairs,” characterizing social welfare institutions as “alien,” and making it more difficult for practitioners to detect any problems [6] Observations of behavioral changes in an individual may provide clues regarding their risk and ability to make decisions [7]. Persons working with immigrants should be familiar with risk factors for elder abuse in these cultures so as to recognize them more readily and intervene when necessary. Cultural sensitivity is important in framing the suspected abuse in a fashion that is appropriate to individuals in different cultures and ethnic backgrounds. Utilization of interpreters or practitioners knowledgeable in the individual’s language and culture may aide in providing services to these persons. In some circumstances, cognitive impairment prevents victims from recognizing that the abuse is occurring. In other circumstances, such individuals may recognize what is going on but may not know how to go about reporting the events. Physical impairments or dependence upon the perpetrator to perform activities of daily living may also be a barrier to reporting. Often, patients themselves will choose to return to environments deemed unsafe. In these situations, staff members struggle to determine whether victims are exercising poor judgment or have crossed over the fine line to decisional incapacity. Determining whether individuals have the capacity to make appropriate decisions about remaining in these abusive situations is a challenge to practicing clinicians (See Chap. 7).

Barriers to Reporting Physicians are in the front lines of patient care. They are the professionals in an ideal position to recognize and identify elder abuse and initiate a plan of care and communication with community services to manage suspected elder abuse. Despite this opportunity, surveys have often identified physicians as the individuals in health care least likely to report suspected elder abuse. Non-physician health care practitioners, social workers, and workers in the mental health field are much more likely to report than physicians [2]. Despite this wide array of persons mandated to report and intervene, common barriers to reporting are encountered by many disciplines. A review of the literature identifying barriers preventing physicians from reporting elder abuse serves to highlight what persons in other disciplines may also encounter. In one survey of physicians conducted to determine why physicians did not report [8], the following barriers were acknowledged by the respondents: • • • •

Abuse involved subtle signs: 44% Victim denied that abuse was going on: 23% Physician was unsure of reporting procedures: 21% Physician was unclear about reporting laws, definitions, accessing community resources: 10%

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Physicians are trained to be aware of the prevalence of illnesses in the general population, so as to recognize them in clinical practice and initiate appropriate management. Though medical student training in pediatric medicine often involves training in the recognition of the signs of child abuse, few physicians have been trained to recognize signs of elder abuse [9, 10]. Distinguishing between aging and findings that are consistent with elder abuse (such as bruising patterns, weight loss, fractures) is important to support a clinician’s clinical suspicion that abuse is occurring. Though the American Medical Association recommends screening for abuse in all elders [11], lack of training leads to clinicians who are unaware of the prevalence or abuse or the importance of screening for it in at-risk populations [12]. Lack of awareness of risk factors is compounded by a lack of appropriate documentation when elder abuse is recognized or occurring. Such documentation would be invaluable to investigators looking into suspected cases. The value of accurate documentation is dependent completely on the clinician’s ability to recognize and document clinically significant findings and suspicions (See Chap. 10). Physicians are often reluctant to ask about elder abuse; approach of this topic has been seen as akin to “opening Pandora’s box” [13]. Busy practitioners are very sensitive to time constraints. A lack of time may prevent implementation of screening for elder abuse or providing patients with the opportunity to report it. Mandated reporters in various areas where at-risk individuals spend their time have significant difficulty recognizing abuse. Limited availability of brief and effective screening tools for elder abuse and knowledge of reporting procedures are also reported barriers, though developments in this area are advancing (See Chap. 8). When concerns are raised regarding the victim’s ability to make appropriate decisions regarding their own safety, persons encountering this situation may not be familiar with how to conduct this evaluation (See Chap. 7). Once abuse is identified, many may feel powerless to “fix” the problem. Mandated reporters may have the perception that government agencies will be unwilling or unable to help. They may be unaware of the existence of laws regarding elder abuse, including a lack of awareness that financial exploitation could be prosecuted as a criminal offense. Though removal of individuals from abusive situations may be possible, admission to the hospital for a “social admission” is difficult in the absence of another reimbursable reason for hospitalization. For suspected victims of elder abuse who are in safe clinical settings like hospitals, another concern is the potential of sending the victim back to the environment where the abuse was taking place after discharge. Safety concerns for the at-risk person necessitate generating a plan of support upon return to the community. That person should also be given easy means of contacting emergency assistance if necessary. This plan requires knowledge on the part of the practitioner on what services are available and whom should be contacted, with the purpose of protecting the potential victim from any retaliation by the perpetrator (see Chap. 11). Offering medical home care services (when applicable) or connecting these individuals to additional community agencies that can support that individual at home may reduce

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the isolation that these individuals feel and provide opportunities by these agencies to report suspected abuse (to further protect these individuals). Mandated reporters may also feel frightened or threatened by the abuser. Safety concerns may hinder involvement in abuse cases. Involvement of law enforcement in these circumstances may help reduce the potential for harm.

Eliminating Barriers The barriers preventing recognition of elder abuse persist. There is a significant overlap in underlying causes of the barriers identified in victims as well as in mandated reporters. The range of causes, from lack of education on risk factors, lack of knowledge of reporting procedures and laws, and a lack of motivation to report, all contribute to the difficulty in recognizing and pursuing elder abuse in the community. Education of the general public, clinicians, allied heath personnel, and any other individuals who are in direct contact and interact with vulnerable older persons (including clergy and those providing financial services to at-risk persons) is necessary to foster a greater recognition not just of the problem of elder abuse. Educating these persons also empowers them to be active in recognizing, reporting, and preventing abuse. Though many champions exist in these disciplines, funding priorities have often been cited as the underlying reason for a lack of resources to forward this agenda of advocacy. Beyond recognition, studies showing the efficacy of screening, interventions, and interaction between multidisciplinary and interdisciplinary teams tasked to investigate and manage elder abuse are greatly needed to bring more resources to prosecution of cases of elder abuse and prevention strategies to prevent abuse in those at risk. Clearly, much work remains to bring the problem of elder abuse. Advocacy is the best way to bring more light to its victims (See Chap. 13).

References 1. Rooney M. Testimony of Mickey Rooney – senate special subcommittee on aging. Accessed at http://www.scnursinghomelaw.com/uploads/file/Mickey%20Rooney.pdf South Carolina Nursing Home Blog http://www.scnursinghomelaw.com/2011/03/articles/advocacy/justice-­ for-­all-­ending-­elder-­abuse-­neglect-­and-­financial-­exploitation/. March 2 2011. 2. Rosenblatt DE, Cho KH, Durance PW.  Reporting mistreatment of older adults: the role of physicians. J Am Geriatr Soc. 1996;44(1):65–70. 3. Wolf RS, Pillemer K. Understanding the causes of physical elder abuse. In: Helping elderly victims: the reality of elder abuse. New York: Columbia University Press; 1989. p. 69–81. 4. Cammer Paris BE. Violence against elderly people. Mt Sinai J Med. 1996;63(2):97–100. 5. Montoya V. Understanding and combating elder abuse in Hispanic communities. J Elder Abuse Negl. 1997;9(2):5–17.

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6. Brownell P.  The application of the Culturagram in cross-cultural practice with elder abuse victims. J Elder Abuse Negl. 1997;9(2):19–33. 7. Baladerian NJ. Recognizing abuse and neglect in people with severe cognitive and/or communication impairments. J Elder Abuse Negl. 1997;9(2):93–104. 8. Kennedy RD. Elder abuse and neglect: the experience, knowledge, and attitudes of primary care physicians. Fam Med. 2005;37(7):481–5. 9. Warshaw C. Identification, assessment and intervention with victims of domestic violence. In: Warshaw C, Ganley AL, editors. Improving the health care response to domestic violence. A resource manual for health care providers. San Francisco; 1998. p. 49–86. 10. Alpert EJ, Tonkin AE, Seeherman AM, Holtz HA. Family violence curricula in US medical schools. Am J Prev Med. 1998;14(4):273–82. 11. American Medical Association. REPORT 7 OF THE COUNCIL ON SCIENCE AND PUBLIC HEALTH (A-08) elder mistreatment (resolution 429, A-07) (reference committee D). 2008. 12. Gerbert B, Caspers N, Bronstone A, Moe J, Abercrombie P. A qualitative analysis of how physicians with expertise in domestic violence approach the identification of victims. Ann Intern Med. 1999;131(8):578–84. 13. Sugg NK, Inui T. Primary care physicians' response to domestic violence. Opening Pandora's box. JAMA. 1992;267(23):3157–60.

Chapter 4

Risk Factors for Patient and Caregiver Anthony Casacchia and Natalie Kayani

Ms. Jones was an 82-year-old frail woman with moderately severe-staged Alzheimer’s dementia. She had been living alone in the community until her niece, Jane, moved in to assist with caregiving. Jane sought assistance from the Area Agency on Aging (AAoA) and a Geriatric Assessment Center to determine her aunt’s needs, as well as community options for care giving. Ms. Jones was never married and had no assistance prior to Jane’s involvement. Aside from Jane, no one else was listed on her contact forms with various hospitals and agencies. During the assessment, Ms. Jones did not remember her doctor’s name or names of neighbors or friends. Referral to home health agencies was refused by Jane, who felt she could adequately provide for the patient’s needs. Once Jane moved in, she took control of finances, using the car and money for her own needs, as well as the needs of Ms. Jones. Over the next few months, as Ms. Jones became more dependent, disabled, and cognitively impaired, Jane continued to refuse outside support. Despite obvious caregiver stress and lack of 24-hour care, no progress was made to convince Jane to increase her support system. At the time of Ms. Jones’ death, it was revealed that Jane was sole heir of the estate, valued at $750,000. It was also determined that Ms. Jones’ Power of Attorney and Will had been written at a time when she lacked the decisional capacity for completing such documents. Neighbors relayed that Jane moved out during her final months. Ms. Jones was left alone without supervision and assistance. Neighbors worked together to provide around-the-clock care until her death. Older adults visit health providers for medical or physical issues. An unstated concern during these visits might be financial exploitation. This can be challenging to determine. Abuse is often overlooked due to the providers’ inability to recognize risk factors. Education on these risks and the importance of maintaining a high level of suspicion in order to recognize them are the first steps. A. Casacchia · N. Kayani (*) Division of Geriatric Medicine, Summa Health System, Akron, OH, USA e-mail: [email protected]; [email protected] © Springer Nature Switzerland AG 2021 R. M. Factora (ed.), Aging and Money, https://doi.org/10.1007/978-3-030-67565-3_4

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There is consensus in published literature describing the “typical” victim of financial exploitation. Similar to other sources, the National Elder Abuse Center describes the typical victim as “between the ages of 70 and 89, white, female, frail, and cognitively impaired” [1]. This chapter reviews the literature on the risk factors for financial abuse of the elderly. Although there are limitations to the research, most studies reach the same conclusions about characteristics of the victim, perpetrators, and environment. Recognizing these potential red flags is an important step to limiting the abuse. We propose that the most effective approach involves using the expertise of an interdisciplinary team to uncover and recognize financial abuse. These team members can include physicians, nurse, social worker, pharmacist adult protective services, law enforcement, and attorneys. For the purpose of this chapter, we will focus on the medical model team–based approach to financial abuse of the elderly.

Risk Factor Recognition Several risk factors associated with vulnerability to financial abuse have been identified, though published research addressing this issue has its limitations. Most studies are retrospective. Many of the larger studies were completed in the 1990s. Despite these drawbacks, several evidence-based factors are identified as placing older adults in jeopardy from financial abuse and show that the interplay of these risks (Fig. 4.1) may increase the vulnerability of an older person. Vulnerability is defined as “capable of or susceptible to being hurt” [2]. Although financial abuse can occur against those who are not vulnerable, proactively identifying those at highest risk may lead to actions to establish safeguards of protection. This requires ongoing education of professionals who may be the only outside contact for these individuals.

Victim’s Risk Factors Age: Ms. Jones Is an 82-Year-Old Frail Woman… A large study on elder abuse of all types concluded that advanced age is linked to an increased likelihood for financial abuse [3]. In one study, 48% of the victims were 80 years or older, followed by 28.7% aged 75–79 years old, 10.8% aged 70–74 years old, and 9.4% aged 65–69  years. Additionally, the oldest group of 80  years and above constituted a quarter of all types of elder abuse victims. At the time of this study’s publication in 1996, this population comprised only 19% of the total elderly in the country. A more recent study in 2009 by Garre-Olmo et  al. analyzed the

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Environment characteriststics

Victim characteriststics Age Gender Frailty Cognitive Impairment Physical dependency on perpetrator Mental illness Lack of social support Substance abuse Predictaable B ehavior Fear Low Income

Shared housing Awareness of the modern world Social is olation of both parties

Perpetrator characteriststics Personailty traits Victim-perpetrator relationship Financial or housing dependance Substance abuse Social sterrsors Mental illness

Financial abuse

Fig. 4.1  Relationship between victim, perpetrator, and environmental factors in elder abuse

prevalence and risk factors for financial abuse in a population in rural Spain [4]. In this study, those aged 85 or older had a higher risk of financial abuse compared to those under 85 years old, with the study demonstrating an odds ratio (OR) of 3.84 (95% CI 1.70–8.68) supporting this observation. Other recent studies show that more advanced age may not be as strongly linked. A study by Laumann et al. in 2008 (based on the National Social Life, Health and Aging Project) found that 3.5% of 3005 surveyed older adults reported financial mistreatment [5]. Analysis of this cohort showed a negative association of age with the odds of reporting financial mistreatment (OR 0.95, p